US inflation data and financial sector earnings are set to drive crypto markets in the coming week, with investors looking for new signals on interest rates, economic growth and risk appetite.
The June consumer price index came out on Tuesday, followed by producer prices on Wednesday, giving markets two opportunities to consider the Federal Reserve’s interest rate policy path.
XYO co-founder Marcus Levin told CoinDesk that the soft CPI and PPI readings could strengthen the case for easy monetary policy, which has historically supported Bitcoin. and the broader crypto market. However, stronger than expected inflation could increase expectations of a print rate cut and potentially send Bitcoin below $60,000, he said.
“Investors will also keep an eye on the earnings of major U.S. banks, including JPMorgan, Citigroup and Wells Fargo, as their results often provide the clearest snapshot of the health of the U.S. economy,” Levin said.
“Strong credit demand, healthy consumer spending and stable credit quality will reinforce the view that economic growth remains resilient, supporting broad risk appetite.”
Renewed US-Iran tensions and the threat of disruption around the Strait of Hormuz are also likely to influence events, causing further volatility through oil prices and other risk markets.
what to watch
(all times ET)
- crypto
- July 13: Ethereum developers will review the progress of testing the planned Glamstardom upgrade.
- July 14: Zito is expected to make self-custody Solana trading app, JTX, accessible to early users.
- macro
- July 14, 08:30 am: US core inflation rate MoM for June estimated at 0.2% (previous 0.3%)
- July 14, 08:30 am: US core consumer price index for June up 2.9% y-o-y (previous 2.9%); MoM estimation. 0.3% (Prev. 0.2%)
- July 14, 08:30 am: US consumer price index for June (previous 4.2%); MoM estimate -0.1% (previous 0.5%)
- July 14, 10 am: US Fed Chairman Wersch presents the semiannual monetary policy report to Congress.
- July 14, 10 pm: China’s second-quarter GDP growth estimated at 4.4% (previous 5%)
- July 15, 8:45 am: US Fed Williams speech titled “The Future of Market Liquidity and Function”
- July 15, 9:45 am: Bank of Canada interest rate decision (previous 2.25%)
- July 16, 08:30am: US Initial Jobless Claims for the period ending July 11 (Previous 215K)
- July 17, 5 am: Eurozone consumer price index annual final estimate for June at 2.8% (previous 3.2%)
- July 17, 10am: US Michigan Consumer Sentiment Prell for July (Ex 49.5)
- Income
- July 15: BlackRock (BLK), pre-market, $12.55
symbolic events
- governance vote and call
- The Aave DAO is voting to adopt a standardized technical asset listing framework to ensure a consistent, transparent security baseline for assets across Aave V3, V4 and Horizon. Voting will end on July 13.
- The Ssv.network DAO is voting to reduce the minimum value for its Incentive Mainnet Program (IMP) rewards from $10 to $8 per SSV. Voting will end on July 14.
- The Threshold Network DAO is voting to reorganize its committee, split multisig responsibilities, and eliminate contributor compensation to save $649,000. Voting will end on July 15.
- Kratos DAO is voting to extend the current mobile app token reward standard deadline from July 31 to August 31, delaying the planned halving to September 1 to help maintain user acquisition. Voting will end on July 16.
- The ENS DAO is voting to allocate $1.69 million to fund the SPP3 infrastructure group and compensate the selection committee. Voting will end on July 16.
- Arbitrum DAO is voting on the election of the Oversight and Transparency Committee (OAT) members. Delegates can freely allocate their voting power among the 13 eligible candidates using a weighted voting system. Voting will end on July 17.
- unlock
- July 15: Connex will unlock 1.45% of its circulating supply worth $28.67 million.
- July 16: Arbitrum (ARB) will unlock 1.46% of its circulating supply worth $8.62 million.
- July 17: DeBridge (DBR) will unlock 11.43% of its circulating supply worth $10.13 million.
- token launch
- July 13 – Credible (CRED) community sale started on MetaDAO. The goal of this increase is to increase community demand by $2 million.